No down trend or up trend. It is just another 200-300 cycle. If you have bought at 220, sell at 300 and wait to fall it to 200-220 again. Buy range is 200-220 and sell range is 280-300.
That's definitely the case until it suddenly is not.
I'm not saying that it's happening now, but people who bet the house on that cycle will eventually get wiped out if it goes beyond it in either direction.